Answer

Dealing with power in negotiation should be done with great care. Before using power in any negotiation, be sure to analyse all the possible consequences of using that power. Remember that after you have used your power, you usually dissipate your power.

Four important sources of personal power include:

1. Authority or expert power (conferred by your knowledge or qualification on a matter or issue)
2. Personal credibility (conferred by your experience and past track record)
3. The availability of alternatives to a particular negotiated outcome is the most potent form of power in any negotiation as it does not commit you to one particular outcome. This has come to be known as BATNA.
4. Physical power - it has been substantiated by research that physically bigger and better looking individuals are regarded by their counterparties to have more power.